this is a special "world news" with diane sawyer on the first night after an historic vote. victory lap. it was a modern american election. that gave president obama four more years. >> i believe we can seize this future together. >> how did a new patchwork of americans come together to give him the win? and force a tough gut-check moment for the republican party? >> paul and i have left everything on the field. we have given our all to this campaign. >> can they recover? and change with the changing america? what is the world saying tonight? how about wall street? and what did the president do today to help the country heal? now, two american families turn

the page. the romneys, polling together. the obamas, starting a new chapter in this white house. and the abc news powerhouse team is everywhere, on this historic day for america. live, from abc's election headquarters, this is a special "world news" with diane sawyer. >> good evening, and it was a day of celebration for president obama and a day of soul searching for the republican party. and, a reality check for a nation, seeking to move forward as a hard-fought election. tonight, your voice has become your vote, and these are the results at this hour. electoral votes, president obama with a decisive victory. and the president also winning the popular vote. and there are two pictures this morning after that say so much about two families, after the long campaign. governor romney, gathered with his family in a hotel room, and

president obama and his family, on their way back to the white house. and, abc's white house correspondent jake tapper, with us again tonight. jake? >> reporter: good evening, diane. after logging more than 170,000 miles on air force one and a grueling and intense campaign, president obama finally got an opportunity today to take a breath and enjoy his hard-fought campaign. late this afternoon, the first family boarded air force one to return to the white house, which, for four more years, they can call home. in his victory speech in the wee small hours of this morning, the president said he was invigorated. >> i return to the white house more determined and more inspired than ever about the work there is to do. >> reporter: before he left chicago, the president stopped by campaign headquarters to thank campaign manager jim messina and other staffers with hugs. e might want to stock up on those hugs. the american people have voted for the same divided government and potential grid lock we've had for two years.

today, republicans and conservatives were overwrought, wringing their hands, trying to figure out what went on. >> i went to bed thinking, we're outnumbered, thinking we've lost the country. >> i think republicans have done a pathetic job of reaching out to people of color. >> if mitt romney cannot win in this economy, then the tipping point has been reached. >> reporter: on the president's to do list, economic growth and jobs. immigration reform, and the top priority, those tax cuts set to expire come midnight new year's eve. but whatever difficulties may lie ahead, the president seized his moment early this morning, staking his claim in history with a nod of the lofty rhetoric of his convention speech eight years ago and his hopes for what might be. >> i believe we can seize this future together, because we are not as divided as our politics suggest. and we remain more than a collection of red states and

blue states. we are and forever will be the united state of america. >> reporter: and in that vein, diane, president obama reached out to the house and senate republican leadership, they pledged to work together to solve this nation's problems, of course, the challenge is turning that rhetoric into reality. diane? >> and we have more on that in a moment. thank you so much, jake. but what about governor romney, after so many years, such a long campaign? what is he thinking tonight? abc's david muir covered that campaign and is in boston right now. david? >> reporter: hey there, diane. you showed that image of the governor today. we know he spent more time with his family. they've gathered here, five sons, 16 of the 18 grandchildren. and this family has been a huge part of the campaign. one of the sons, a key adviser, the others campaigning for him, and, of course, ann romney, who has said this would be the last campaign. mitt romney and his

campaign convinced they had a shot until the very end. >> like so many of you, paul and i have left everything on the field. we have given our all to this campaign. >> reporter: last night, a portrait of his dedicated family, one last time before exiting the state. romney had been running for president for six years, two campaigns -- >> i'm running for president of the yifr. >> reporter: hoping to fulfill and unfinished dream of his father. ♪ he's going to win >> reporter: george romney, the one-time governor of michigan, running for president himself. a devout mormon, romney's discipline brought outsized success at work and a cherished family at home. >> now are you doing? >> reporter: from the very start, his campaign arguing romney was the turn around guy who could turn around the economy. but there would be missteps. playing right into the caricature crafted by his opponents. >> corporations are people. >> reporter: taking hard lines in the primary that would hurt him later. calling for self-deportation for undocumented immigrants. they would go home, get in the back of the line? >> that's correct.

>> reporter: his comments about the 47%. but there were turning points. his wife's appeal. >> i love you women! >> reporter: and romney's biggest moment, the first debate. >> you've been president four years. you've been president four years. you'd said you'd cut the deficit in half. >> reporter: and there was self-dself self-devry case, too. >> it's nice to finally wear what ann and i wear around the house. >> reporter: in the final days, a candid answer from ann, should the race not go their way. >> he will not run again. nor will i. >> reporter: living with ms, ann enduring the rigors of two presidential campaigns. last night, her husband promising a prayer for the president. >> ann and i join with us to earnestly pray for him and for this great nation. thank you and god bless america. >> reporter: and so the big question tonight, what's next for the governor? he said in the last 24 hours he hasn't much thought about that, saying he has a life and a family to get back to. diane, we learned a little bit more about the campaign plane, the one we've been flying around

in. it's headed back to michigan where they are going to clean the plane, their word, decontamination, saying the campaign planes are notoriously filthy, filled with germs because of the reporters with beaten down immune systems. i don't know how to take that. >> we won't take it personally. thank you so much, david. and now time to bring in co-an or the of "good morning america," anchor of "this week," george stephanopoulos, once again. so, what did we learn last night from the voters about the economy? >> reporter: we saw the building blocks of president obama's victo victory. he blunted the bad economy by fighting governor romney to a draw. you see in the exit polls, one point. and then beating him on this issue of empathy. there was an empathy gap, by ten points, the voters thought the president was more in touch of their problems. he was brilliant in his targeting of the voters he needed to get out. >> so, give me your bottom line on the republicans now. we talked about the soul-searching. what do they do next? >> reporter: perhaps civil war. you have to look at this party

right now. they have won the popular vote only once since 1988 in the presidential race. and it was probably best summed by the head of the american conservative union. he said the party is too old, too white and too male. they lost single women by 40 points, hispanics by almost 40 points, blacks by more than 80 points. this is a party that has to create a much bigger test. >> saying it's a wakeup call. thank you so much, george. zblifl as we said, after the big speeches last night, there was a jolt of reality today. wall street plummeted, a one-day drop that was the worst in nearly a year. the dow down more than 300 points. was it the election? was it worry about grid lock in washington all over again? abc's bianna golodryga has some answers. wall street woke up this morning to the same president, but no worries. europe's debt crisis appears to be getting worse. there was rioting in greece today over new budget cuts and

word that even europe's strongest economy, germany, is in trouble. but quickly investors turned back to our looming problem, the road we're on to the so-called fiscal cliff at the end of the year. $650 billion of combined spending cuts and tax cuts expiring automatically. wall street's selloff led to a loss of $300 billion in market value. late this evening, greece passed its budget costs and that may ease concerns tomorrow morning on wall street. but until we have certainly about the rest of europe and most importantly, our own fiscal cliff, diane, we should be prepared for more days like this ahead. >> okay, thank you, bianna. and on that topic, what happens next, as the country hurtles towards that fiscal cliff. 55 days from now. abc's jonathan karl coverer ers congress and says, if the election sent a message to washington, and what kind. >> reporter: from speaker of the house john boehner, to the newly re-elected president, an 0 live

branch. >> mr. president, the republican majority here in the house stands ready to work with you. >> reporter: they better work together. if they don't strike a deal to cut the deficit in 55 day, by law, we face the so-called fiscal cliff, taxmaggedon, a mix of tax increases and defense spending cuts that would likely plunge the economy back into recession. and give a big tax hike for virtual little every family in america starting january 1st. the president has insisted and campaigned on raising tax rates on the wealthy. house republicans campaigned on no tax increases and they won, too. today, from boehner, a hint at a willingness to compromise. >> we want you to succeed. let's challenge ourselves to find the common ground that haas eluded us. let's rise above the dysfunction and do the right thing together for our country. >> reporter: the newly elected congress looks almost exactly like the last one. the same partisan divisions,

maybe even a little bit deeper, that led to failure last time. but diane, there may be a new dynamic, that looming crisis, forcing a compromise that just seemed impossible in the last time around. >> well, i'll have a chance to ask the speaker of the house, john boehner, about just that tomorrow. an abc news exclusive. we will sit down and talk about the message of this election and what is to come in the road ahead. thank you, jon. and abc news has learned tonight that former congresswoman gabby giffords and her husband mark kelly plan to be in the room for the sentencing of the man who shot her in january of last year. the sentencing is tomorrow. her husband, mark kelly, expected to make a statement in court, with his wife by his side about the tragedy. as you know, 18 others were also shot. it will be the first time the two of them see the gunman in person. and when i asked congresswoman giffords a year ago if she was angry with the gunman, jared loughner, she said, "no, no,

no." and right now, a big new storm bearing down on the northeast, on the families already battered by the cold. coming up next, the new race to keep people from freezing tonight. [ male announcer ] if you suffer from heartburn 2 or more days a week, why use temporary treatments when you can prevent the acid that's causing it

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you can see the piles of trash, mounds of sand that line streets like this in rockaway park, just outside new york city. really hard-hit areas, they are not just covered in snow. and just a mess. and get this. more than 22,000 people, tonight, have lost power from this new storm already. and we've got a whole night of nor'easter ahead. an ice cold coating of fresh misery. and it has plenty of company tonight. with a new storm on the way. how do you feel? >> tired. exhausted, but hey, what am i going to do? this is life. >> reporter: you can see it on every block. and in every tattered home. this is the water line, right? >> yes. >> reporter: up to -- >> 53 inches. >> reporter: after a week of cleaning up, regina mcmanus had to shut down the generator she's been living off. bringing it inside to protect it from the nor'easter. without power, the temperature

in the house is already at 45 degrees and dropping. >> another one's coming, but i'm being reassured that it's going to be a flood zone this time. >> reporter: police are pleading with people to seek shelter. and those shelters are making room by carting out bulky bags of donations. >> we're trying to do is clear out a shelter so people who haven't evacuating can have a place to stay. >> reporter: while regina is sticking it out her neighbor says he didn't stay for sandy. and won't stay for this one either. >> hopefully it's not going to be as bad but we're not going to stay. we're not going to stay. got to think of my family first. >> reporter: winds could gust up to 60 miles per hour and that is one worry tonight, that debris, still lying everywhere along the coast, could blow around and become projectiles. diane? >> sure hoping for safety tonight for everyone there. thank you, ginger. and coming up, what the election last night taught us about the changing modern ameram i on thy.ing...1...2. you wouldn't want your doctor doing your job,

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take a look at this picture. you are looking at a picture that lit up screens across america last night. mrs. obama, congratulating her husband. a record 3.5 million people gave it their vote on facebook. but there was another image we saw last night that every family can recognize from their own scrapbook. two little girls growing up fast. abc's sharyn alfonsi. >> reporter: as they walked on stage last night, everyone noticed, especially dad. >> sasha and malia, before our very eyes, you're growing up to become two strong, smart, beautiful young women. >> reporter: malia and sasha once hoisted on their parents arms. you can't help how they marvel as they inch up. mali that now shoulder to shoulder with her mother. she's now 14, sasha, 11. the next four years for them

will likely be marked with first dances, college applications, dating. >> teenagehood is complicated. i should also point out that i have men with guns that surround them. often. it means they never get in the car with a boy who had a beer. >> reporter: malia already anxious to get her drivers license. >> we're going to have to figure out the logistics of that. but i promised her that she will, in fact, be able to learn how to drive. >> reporter: they will have spent most of their lives living in the white house. and yet, we rarely get glimpses of them. rarely hear their voices. >> make that cat go away! >> reporter: their parents having fally dinners, after school games, life lessons. a family dog. >> and i'm so proud of you guy, but i will say for now, one dog's probably enough. >> reporter: two remarkable young women growing up gracefully and sidesketching the spotlight in tiny pink sneakers.

sharyn alfonsi, abc news, new york. >> and we thank you so much for watching this night after the big election. we are always here at abcnews.com. "nightline" will be here later. and i'll see you again tomorrow night. good night.